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Trading Made Simple

  • #57,061
  • May 18, 2015 4:21pm May 18, 2015 4:21pm
Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUDH1.png Size: 46 KB
  • #57,062
  • May 18, 2015 4:59pm May 18, 2015 4:59pm
Took a +50 trade for EA in M15 after LO seems to set high of the day, and it close below DOL & PAC. (but lost 20 pips earlier due to stupid decision, my fault )

Summarizing what I learned from TMS, hope I'm getting it mostly right
- wait for previous candle to close and confirm a TDI cross (not on current candle)
- candle changed color and is #1 or #2
- see where price is in relation to RN, S&R, EMA, OHLC etc for room of movement to at least break even
- be aware of consolidation, slow moving market (long wicks, MC)
- trend of MTF
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDM15.png Size: 58 KB
  • #57,063
  • May 18, 2015 5:03pm May 18, 2015 5:03pm
Good Evening Guys,

Just thought I would add something that helped me which I wish now I had learned earlier looking back...
Seriously, stick to 1 or 2 pairs max if your just starting out, trust me, there is enough pips to be made, once you want to expand your market you can certainly go ahead after your confident and have already obtained "proof of concept".
  • #57,064
  • May 18, 2015 6:57pm May 18, 2015 6:57pm
Quoting Frank0
{image}
Very good that you can spot those big candles. They are H1 WRBs so we avoid trading H1 but can go down and trade M15.

Also note that the price action is at the Weekly WRB High and BRN 1.9600. Market is need an event to move this so pay attention to news, etc.
See my post#57,207 on GBPAUD big picture.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #57,065
  • May 18, 2015 6:59pm May 18, 2015 6:59pm
Quoting arize
Took a +50 trade for EA in M15 after LO seems to set high of the day, and it close below DOL & PAC. (but lost 20 pips earlier due to stupid decision, my fault ) Summarizing what I learned from TMS, hope I'm getting it mostly right - wait for previous candle to close and confirm a TDI cross (not on current candle) - candle changed color and is #1 or #2 - see where price is in relation to RN, S&R, EMA, OHLC etc for room of movement to at least break even - be aware of consolidation, slow moving market (long wicks, MC) - trend of MTF {image}

Good trading!
You avoided trading the H1 WRB and traded M15.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #57,066
  • May 18, 2015 7:02pm May 18, 2015 7:02pm
Quoting mokuro89
{quote} Hi Emmanuel7788 I've been using ADR set to (30) days to filter range, and after this post I decided to change the values to test and the differences between 10 and 30 are sometimes huge. How to decide what value use on ADR, and why 52 weeks, is there anything special about this number? Thanks!

There are 52-weeks in one calendar year.

10 days ADR is more recent than 30 days ADR.

Just do a simple comparison what is recent and what is the longer term. I am being conservative and this hit the target more often.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #57,067
  • May 18, 2015 7:05pm May 18, 2015 7:05pm
Quoting M.azhar
Hello Everyone, Need help regarding my time zone, im on GMT 8 singapore time ,would like to know the exact time for 10 pacific. Kindly help me on this. Just for your info,been reading the thread from 1st page really help me a lot.

http://www.timeanddate.com/
http://forex.timezoneconverter.com/

you need to figure this out on your own and that will be permanent.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #57,068
  • May 18, 2015 7:31pm May 18, 2015 7:31pm
Quoting omonisha
{quote} I didn't see anything to enter. All i saw was tiny candle without PA facing S/R how to enter. {image}

Did you not see the previous week' Close and High?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #57,069
  • May 18, 2015 7:43pm May 18, 2015 7:43pm
Quoting shay14
missing out on so many pips, why the hell am i so conservative.....it's just unfortunate, seems like i take trades that lose and stay away from winners I use TDI, DOL, HOL, and MTF stoch 4h at 14,3,3 Trades missed : tdi and stoch all agree but reason why i didn't take them is because DOL and HOL lines {image} {image} {image}

Hi shay,

I am a conservative trader. Missing some opportunities is like missing the morning train and there is always the next one to catch.

What it mean by being conservative?

Being conservative means, we do not to take any counter trend trade setups.
Being conservative means, we pick setups which we qualify as A+++.
Being conservative means, we make better use of our trading capital and make our money work for us.
Being conservative means, we trade less but make more profits over a longer term.
Being conservative means, we know when to take 'bite size' trades with a 'plan, build and run' approach. 'Let Profits Run'.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #57,070
  • May 18, 2015 8:00pm May 18, 2015 8:00pm
Quoting emmanuel7788
{quote} http://www.timeanddate.com/ http://forex.timezoneconverter.com/ you need to figure this out on your own and that will be permanent.
HI Emm, can you share a fast website for follow fx news?
  • #57,071
  • May 18, 2015 8:07pm May 18, 2015 8:07pm
GBPAUD 19May H4:

Yesterday, we saw a very narrow range day trading but there was a re-test of that Weekly WRB High.
Will there be another re-test of that WRB High?
Also watch out that Historical S&R level 1.9747 (RN1.9750) just above.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUD week 21 H4 19May.png Size: 59 KB


Remember, we keep it simple. When there is a big candle or WRB in the chart timeframe we trade, we do not take any TMS setups in that particular timeframe. We switch down to the next lower timeframe and trade there.
If you want to catch the next breakout move, you have to be in it in the lower timeframe.

Be conservative!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #57,072
  • May 18, 2015 8:12pm May 18, 2015 8:12pm
Quoting Saionbus
{quote} HI Emm, can you share a fast website for follow fx news?

All the news we get in the public domain are late no matter how fast those website publish them.

Ask yourself, who collates all those data for reports and to whom do they send those data report to.
Some where along the chain of activities, someone get to see those reports and approved them before they are release for public...

we retail traders have no edge when we want to trade those data / news release.

this is why trading TMS intraday is so difficult for many traders.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #57,073
  • May 18, 2015 8:14pm May 18, 2015 8:14pm
Divergence
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD_18May_m15.png Size: 152 KB
  • #57,074
  • May 18, 2015 8:49pm May 18, 2015 8:49pm
Im looking for daily tf for this method..what would u suggest emmanuel?
FXerha
  • #57,075
  • May 18, 2015 9:19pm May 18, 2015 9:19pm
Quoting FXerha
Im looking for daily tf for this method..what would u suggest emmanuel?
Hi FXerha,

Trading the Daily chart timeframe requires a lot more work and planning. It is not a simple trading just look for setup and TDI cross. It requires a disciplined money management strategy to complement the technical trading methodology like TMS 5-Method. It requires a conservative approach what I wrote in an earlier post.
First, learn to do your top down analysis planning for those pairs you want to trade. Look at historical support and resistance. Look at big candles and small candles they way Big E described in post#647.

Below is GBPNZD MN chart.
For several weeks, GZ was trading within that High-Low of the MN WRB, can you see how that MN Low played as support for how many Day trades. Finally there was sign last week that it broke the MN High.
See if you can figure that out and decide how you want to trade this on Day chart.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPNZD week 21 W1 19May.png Size: 42 KB


regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #57,076
  • May 18, 2015 9:50pm May 18, 2015 9:50pm
Quoting emmanuel7788
{quote} Did you not see the previous week' Close and High?
Yes EMU that DOl is also the close of previous WK and i took partial profit near the WK Hi
Sad i'm not trying to understand PA
  • #57,077
  • May 18, 2015 10:38pm May 18, 2015 10:38pm
EVERYONE!!
As of this post, emmanuel7788 has so unselfishly uploaded, for the benefit of all our education, 2,502 chart images!!
First upload being on Monday, ‎May ‎21, ‎2012, ‏‎5:20:16 PM, and latest being on ‎Monday, ‎May ‎18, ‎2015, ‏‎1 hour ago!
We that are IN AWE....SALUTE YOU!!
Thank you Big Emm!!

-Karado
  • #57,078
  • May 19, 2015 12:30am May 19, 2015 12:30am
Quoting omonisha
{quote} Yes EMU that DOl is also the close of previous WK and i took partial profit near the WK Hi
Yup, same vision .
Attached Image (click to enlarge)
Click to Enlarge Name: GBPCAD week 21 18May H1 trade.png Size: 97 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #57,079
  • May 19, 2015 1:25am May 19, 2015 1:25am
Just went and look back to some of Big E' post training chart and found this one.

Did Big E ever mentioned WRB in that post and chart? But he knew when to avoid those big candles.

http://www.forexfactory.com/attachme...1&d=1365686764
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #57,080
  • May 19, 2015 1:39am May 19, 2015 1:39am
Quoting Karado58
EVERYONE!! As of this post, emmanuel7788 has so unselfishly uploaded, for the benefit of all our education, 2,502 chart images!! First upload being on Monday, ‎May ‎21, ‎2012, ‏‎5:20:16 PM, and latest being on ‎Monday, ‎May ‎18, ‎2015, ‏‎1 hour ago! We that are IN AWE....SALUTE YOU!! Thank you Big Emm!! -Karado

I have been called different names by different members at different times... emma, Emm, Manny, Emu, Big Emu, Big Emm, etc.
You all have your own reasons to call me names. I remained very humbled by all the name calling and kudos.
It's funny when I created my user name using yahoo mail, it suggested several others with numbers tag to it. I just pick the one which was not taken. That's the history.

But we all must remember that our late OP eelfranz is Big E to all of us and we will fondly remember his legacy as Big E. To those who started with him in his early days as a trader, he is known as Eric.

What's in a name? A rose by any other name would smell as sweet.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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